The future of marketing and regulatory communications · communications such as fact sheets, pitch...
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The future of marketing and regulatory communications A survey of leading asset managers
Transcript of The future of marketing and regulatory communications · communications such as fact sheets, pitch...
The future of marketing and regulatory communications A survey of leading asset managers
2 | BROADRIDGE
HOW DO YOU MAKE EVERYTHING WORK? We surveyed asset managers to find out what they do today and what they plan to do in the future. Our research found that asset managers employ a wide variety of practices. Some rely on outside resources more than others. And cost isn’t always the deciding factor when it comes to innovation.
Find out how you stack up to your peers—and see where the industry is headed next.
Asset management marketing and regulatory communications teams operate in an intense, fast-paced environment.
On behalf of Broadridge, Naissance conducted a survey of 27 leading asset managers at firms with $25+ billion in AUM, revealing:
• How asset managers create and distribute communications such as fact sheets, pitch books, product brochures, prospectuses and fund reports
• The extent to which they rely on outside resources
• Top priorities for execution
• Plans for future innovation
You need to drive big ideas for sales and marketing—and master the smallest details in your regulatory communications. You’re constantly asked to do more with less. You coordinate internal and external partners, leverage complex technology, manage vast amounts of content and efficiently delegate tasks across multiple teams.
Note: This survey was administered prior to the onset of the coronavirus COVID-19 pandemic in North America.
DIY OR REACH OUTSIDE?
Asset managers use both in-house and outside resources to create and update marketing and regulatory communications. Expect to see more asset managers migrate to outside resources for help creating sales and marketing materials.
REGULATORY MATERIALSSALES AND MARKETING MATERIALS
BROADRIDGE | 3
FUTURE
85%% Increasing reliance on managed services and/or software licensing
15%% It will stay the same
CURRENT 70%% We primarily use our employees to manage this process
30%% We use both in-house and
third-party resources
FUTURE
31%% Increasing reliance on managed services and/or software licensing
69%% It will stay the same
CURRENT 19%% We primarily use our employees to manage this process
35%% We primarily use a managed
service approach, relying on third-party resources
46% We use both in-house and third-party resources
Most respondents do not expect to change their approach to creating materials.Today, only 30% use outside resources to create materials.
Looking ahead, 85 percent of firms see increasing reliance on managed services and software for their marketing materials.
INTO THE CLOUD
More than two-thirds of firms say sales enablement software is extremely important for help with digital distribution of sales and marketing material.
Asset managers anticipate significantly greater reliance on sales enablement software in the future.
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FUTUREIMPORTANCE OF RESOURCES
84%% Increasing reliance on software licensing
16%% It will stay the same
Third-party sales enablement software
4.58 AVG.
Internal (or homegrown) technology software
3.36 AVG.
Basic desktop e-mail software (e.g., Microsoft Outlook)
3.68 AVG.100%
80%
60%
40%
20%
0%
l 1 Not important l 2 l 3 l 4 l 5 Extremely Important l N/A
Digital
PRINT FULFILLMENT
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Similarly, the majority use cloud-based software to help manage physical sales and marketing materials. Almost half expect reliance on outside resources to increase in the future.
44% We primarily use our employees to manage this process
56% We use both in-house and third-party resources
CURRENT FUTURE
44% Increasing reliance on managed services and/or software licensing
56% It will stay the same
36% We use internal (or homegrown) ordering technology or software
44% We rely on both
internal and third-party technology and software
20% We license third-party ordering technology or software
More than half of firms say they primarily use outside resources to execute print and fulfillment of physical sales and marketing materials.
CURRENT
44% We primarily use our employees to manage this process
56% We primarily use a managed
service approach, relying on third-party resources
SETTING PRIORITIES
For all communications, asset managers agree that accuracy and speed are top priorities, while lowering costs remains a key consideration.
TOP PRIORITY: LEVERAGING DIGITAL RESOURCES
Interviews with participants revealed that leveraging digital resources, including automation and distribution, is a top initiative for the future. The interview responses validate our survey findings. Leaders recognize that digital tools can help maximize both speed and accuracy across critical workflows.
IMPORTANCE TO IMPROVING THE APPROACH
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l 1 Not important l 2 l 3 l 4 l 5 Extremely Important
WHAT IS THE MOST IMPORTANT TECHNOLOGY INITIATIVE YOUR FIRM WILL UNDERTAKE TO IMPROVE ITS MARKETING EFFORTS IN 2020?
“ … Implementation of third-party web applications to improve user experience…”
“ … Rolling out a digital distribution tool for marketing and regulatory materials…”
“… Onboarding a content automation platform…”
100%
80%
60%
40%
20%
0%
3.63 AVG.
Lowering costs
4.59 AVG.
Improving speed/ efficiency of execution
4.81 AVG.
Ensuring high quality execution/content accuracy
3.93 AVG.
Integrating composition systems into other
marketing technology
Sales and Marketing
100%
80%
60%
40%
20%
0%
Regulatory3.08 AVG.
Integrating composition systems into other
marketing technology
3.52 AVG.
Lowering costs
3.92 AVG.
Improving speed/ efficiency of execution
4.81 AVG.
Ensuring high quality execution/content accuracy
100%
80%
60%
40%
20%
0%
Digital
4.56 AVG.
Integrating distribution systems into other
marketing technology
3.40 AVG.
Lowering costs
4.40 AVG.
Improving speed/ efficiency of execution
4.76 AVG.
Ensuring high quality execution/content accuracy
100%
80%
60%
40%
20%
0%
4.56 AVG.
Ensuring high quality of execution
3.64 AVG.
Lowering costs via print-on-demand
3.76 AVG.
Lowering costs via move to digital distribution (e-mail, social, etc.)
4.12 AVG.
Improving speed/ efficiency of execution
Content Creation Content Distribution
WHAT’S NEXT?
Respondents anticipate they’ll pursue innovation to create and distribute sales and marketing material more than in other areas.
Every respondent said analytics and digital marketing are “very” or “extremely” important trends for their business.
Digital distribution of sales and
marketing materials
72%%Composition/updates
of sales and marketing materials
68%%Physical distribution
of sales and marketing materials
36%%Composition/
updates of regulatory materials
2020%%
None of the above
1616%%
ANTICIPATION OF ADDING/CHANGING OUTSIDE RESOURCES
IMPORTANCE OF TRENDS
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l 1 Not important l 2 l 3 l 4 l 5 Extremely Important
100%
80%
60%
40%
20%
0%
4.84 AVG.
Digital marketing
4.84 AVG.
Analytics
3.28 AVG.
Artificial intelligence
4.28 AVG.
Cloud-based solutions
MORE THAN TECHNOLOGY
Many participants said data issues and limited resources are the top roadblocks that prevent them from making change.
Asset managers recognize that technology alone doesn’t always address underlying challenges. Without the right data and support, firms can’t maximize the value of their technology investments.
“ There are too many upstream inefficiencies that require marketing to spend a lot of effort with data and execution type functions, rather than focusing on the customer.”
© 2020 Broadridge Financial Solutions, Inc. Broadridge, the Broadridge logo and The ABCDs of Innovation are registered trademarks of Broadridge Financial Solutions, Inc.
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Fast-changing markets, products and regulations are increasing the gap from where you are to where you need to be. You can’t accelerate quality output with inefficient workflows and yesterday’s technology.
To confidently navigate this environment, you need to tap into a wider network of technology and expertise. True innovation requires thinking beyond tech builds and software.
At Broadridge, we recognize that complex problems require integrated solutions. That’s why we bring together people, strategy, data and technology to transform the way you execute communications. Our approach uses The ABCDs of Innovation®, enabling you to harness digital analytics and cloud-based technologies to exceed expectations and stand out in a crowded market.
MARKETING AND REGULATORY COMMUNICATIONSContent composition and distribution process MANAGE
CONTENT
>>>COMPOSE
OUTPUT
>>>DISTRIBUTE AND
MEASURE
Innovation using an integrated approach
About The ABCDs of InnovationBroadridge helps clients understand and apply next-gen technologies by simplifying the complex to help them be Ready for Next. We call this The ABCDs of Innovation.
The ABCDs of Innovation includes a focus on AI, blockchain, the Cloud and digital—as well as the underlying data and analytics that makes them more powerful.
For more information on The ABCDs of Innovation, please visit: broadridge.com/ABCDs
Discover how Broadridge can you help you improve the speed and accuracy of your marketing and regulatory operations.
Call +1 866 359 0456 or email [email protected] | Visit Broadridge.com/ContentHub
